Deal Name: 2006-PWR12

The Real DealA venture that includes hip-hop music mogul Jay-Z has given to lenders a hotel-development site at 51 W. 21st St. in Manhattan. The partnership defaulted on a $52 million loan against the Chelsea neighborhood property in August 2009 ...

Wall Street JournalDeveloper Joseph Moinian is preparing to break ground on a 1.6 million-square-foot office project in Manhattan's West Side along 11th Avenue between 34th and 35th streets. The tower is going up just north of the $15 billion West ...

Minneapolis/St. Paul Business JournalAn affiliate of KBS Realty Advisors is under contract to buy the 288,458-square-foot 601 Tower in Minnetonka, Minn. The Newport Beach, Calif., investment manager is buying the class-A office property, at 601 Carlson Parkway, from TIAA-CREF, a ...

Detroit Free PressA partnership that includes local developer Leo Phillips is planning to transform the former Detroit Free Press building in downtown Detroit into a $70 million mixed-use development. Construction could start as early as next year on the redevelopment, ...

Crain's Cleveland BusinessFDIC is offering for sale the Ohio Savings Plaza office building in downtown Cleveland. The 333,592-square-foot property, at 1801 E. Ninth St., is being marketed by CB Richard Ellis. It was owned by AmFin Financial Corp. of Cleveland, ...

Crain's Chicago BusinessThe city of Chicago is considering having the former Michael Reese Hospital redeveloped into a technology park. An advisory panel has been formed to provide ideas for the 27-acre property at 2929 S. Ellis Ave. The city paid ...

Houston Business JournalHicks Ventures has bought four two-story office buildings in the Clear Lake area of Houston for an undisclosed price. The Houston company bought the properties, with 85,000 square feet at El Camino Real and Gemini, from LNR Partners ...

Commercial Real Estate Direct Staff ReportING Clarion Partners has paid Kettler $118.5 million for a 300-unit apartment complex in Arlington, Va., in a deal that fulfilled a forward commitment it made when the seller began developing the property.The New York ...

Commercial Real Estate Direct Staff ReportBeech Street Capital, an agency lender launched by former Fannie Mae executive Grace Huebscher earlier this year, has originated its largest loans yet, a pair totaling $275 million that were written under Fannie's Delegated Underwriting ...

Citybizlist.comAssociated Estates Realty has paid $89.5 million for a 464-unit apartment community in Ashburn, Va. The REIT, which bought the property from Camden USA, renamed it Westwind Farms. It funded the purchase with cash on hand, as well as borrowings ...